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Published
Jul 27, 2016
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App commerce company Poq secures $4m in funding

Published
Jul 27, 2016

Poq, the British app commerce company that aims to make app commerce bigger than ecommerce, has secured $4m in a Series A funding round to help it achieve that goal.

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The funding round was led by venture and growth investor Beringea, with additional funding from existing investors. Poq's seed investors include Seedcamp and Venrex. Poq says the app economy is the world's fastest growing economy, and its platform has hit £100m in app revenue and is growing at 600% year-on-year.

"The revenue run-rate of the Missguided shopping app went from zero to £30 million within just four months of the app launch," says Nitin Passi, the Founder and CEO of UK fast fashion etailers Missguided. "The partnership with Poq has proven extremely valuable in a very short space of time, and the app now makes up 13% of our online revenue."

Poq also just signed two new clients, health retailer Holland & Barrett and Made.com, the designer furniture etailer. Founder Michael Langguth says: "We will use the funding to triple our development team, kick-start our international expansion outside of Europe and empower retailers to bring online shopping into the store. Our mission is to use advanced native app technology to drive more revenue through our platform than any web-based commerce platform, ever."

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